Asbury Automotive Group (NYSE:ABG) Stock Price Target Cut by Barclays

Asbury Automotive Group (NYSE:ABG) had its price objective decreased by Barclays from $265.00 to $230.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential upside of 37.31% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Morgan Stanley reduced their price objective on shares of Asbury Automotive Group from $230.00 to $184.00 and set an “equal weight” rating for the company in a research report on Monday. UBS Group set a $250.00 target price on shares of Asbury Automotive Group in a research report on Wednesday, July 29th. Weiss Ratings reissued a “hold (c-)” rating on shares of Asbury Automotive Group in a research report on Friday, July 24th. JPMorgan Chase & Co. reduced their price target on shares of Asbury Automotive Group from $220.00 to $190.00 and set an “underweight” rating for the company in a research report on Tuesday, August 4th. Finally, Seaport Research Partners upgraded shares of Asbury Automotive Group from a “neutral” rating to a “buy” rating and set a $300.00 price objective for the company in a research note on Tuesday, September 8th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $214.00.

Asbury Automotive Group Trading Down 1.3%

ABG opened at $167.51 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.29 and a current ratio of 0.91. Asbury Automotive Group has a one year low of $165.85 and a one year high of $258.74. The company has a market cap of $3.01 billion, a P/E ratio of 6.26, a PEG ratio of 0.66 and a beta of 0.78. The business’s 50-day simple moving average is $202.87 and its 200-day simple moving average is $201.68.

Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Tuesday, July 28th. The company reported $6.82 earnings per share for the quarter, topping the consensus estimate of $6.31 by $0.51. The firm had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Asbury Automotive Group had a return on equity of 12.72% and a net margin of 2.83%.The firm’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $7.43 earnings per share. As a group, equities research analysts expect that Asbury Automotive Group will post 26.12 EPS for the current fiscal year.

Insider Activity at Asbury Automotive Group

In related news, SVP Jed Milstein sold 948 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $250.28, for a total value of $237,265.44. Following the completion of the sale, the senior vice president owned 11,259 shares in the company, valued at $2,817,902.52. This represents a 7.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Man Group plc purchased a new position in Asbury Automotive Group in the 2nd quarter valued at $3,208,000. BlackRock Inc. purchased a new position in Asbury Automotive Group during the 2nd quarter worth $593,499,000. Legal & General Group Plc purchased a new position in Asbury Automotive Group during the 2nd quarter worth $8,884,000. Fieldview Capital Management LLC acquired a new stake in shares of Asbury Automotive Group in the 4th quarter worth $3,336,000. Finally, Empowered Funds LLC acquired a new stake in shares of Asbury Automotive Group in the 2nd quarter worth $2,100,000.

About Asbury Automotive Group

Asbury Automotive Group, Inc is a U.S.-based automotive retailer that operates franchised dealerships representing a range of domestic and international vehicle manufacturers. The company sells new and used cars, trucks and sport utility vehicles, and provides related financing and insurance products.

In addition to vehicle sales, Asbury’s dealerships offer automotive maintenance and repair, replacement parts, collision repair and other after-sales services. The company also operates Clicklane, a digital retail platform designed to support online vehicle purchasing, financing and trade-ins.

Headquartered in Duluth, Georgia, Asbury serves customers through dealership locations across multiple U.S.